Population Diagnostics, Inc. Wins Award in New York State Technology Innovation Competition
Melville and Albany, NY – June 17, 2008 – Population Diagnostics, Inc. (PDx) announced today that it has won a technology innovation competition awarded by NY Loves Bio, a statewide marketing initiative, coordinated by the New York State Economic Development Council. Financial support associated with the award is earmarked toward sponsoring PDx in the New York Pavilion at the BIO 2008 International Conference in San Diego, the world’s largest annual gathering of the biotechnology industry. On Wednesday, June 18th at 11:30 am, James Chinitz, PDx’s Chief Executive, will present an overview of the company inside the NY Pavilion.
“Winning a competition judged by a panel of scientists, business leaders and industry advocacy groups is a testimonial to the potential that our technology has to transform medicine,” commented James Chinitz. “The BIO conference is an outstanding opportunity to promote our firm’s technology to an international audience and is a premier venue for partnering and collaboration opportunities.”
At the conference, PDx will be showcasing its proprietary technology which addresses the medical industry’s greatest long standing challenge. PDx’s technology is the only platform which promises to rapidly, systematically and cost effectively find the genetic causes of complex common diseases such as autism and diabetes. When applied to drug development, the technology will reveal the “causal” genetic profiles associated with drug efficacy and safety, so that a patient’s response may be predicted before the drug is administered. Therefore, drugs would only be prescribed to those who would be certain to benefit. PDx’s breakthrough allows for rational interpretation of the human genome resulting in the discovery of a distinct class of biomarkers that have causal relationships to disease and drug therapy. A causal relationship of a biomarker is unlike most other biomarkers of a lesser class which lack medical relevance because they only measure predisposition, risk or susceptibility.
about population diagnostics, inc.
Population Diagnostics, Inc. (PDx) is applying its discoveries in human genetics to the development of DNA-based diagnostics and personalized medicine tests. PDx’s technology, which reveals the genetic causes of complex diseases such as autism, diabetes, Parkinson’s, and Alzheimer’s, enables development of early detection diagnostic tests that predict pre-symptomatically why some individuals will suffer from debilitating diseases while others will not. When applied to drug discovery, the technology enables pharmaceutical companies to develop targeted therapies and companion diagnostics. Its novel technology and exclusive products places PDx in a prime position to (i) transform how physicians diagnose and manage disease in their patients and (ii) enable pharmaceutical companies to expand the number of available therapies and market drugs with higher efficacy and safety.
About NY Loves Bio
NY Loves Bio is a bioscience business marketing organization that is led by the New York State Economic Development Council (NYSEDC) with statewide support from leading advocates in industry, academia, state government and local and regional economic development organizations. The purpose of NY Loves Bio is to promote New York State’s entire bioscience sector by showcasing its assets and communicating how the state’s economic development organizations can help life science and related businesses invest and grow in the Empire State. Together, with its founding partners, NY Loves Bio is working to promote New York globally as a thriving center for life sciences research and commerce.